The XYZ Company is a world leader in medical device manufacturing. Aiming to continue its market position in this industry, the XYZ Company pursues a differentiation strategy. As a result, this company compensates its employees higher than competitors in order to attract and retain the best employees. What kind of pay level policy does the XYZ Company follow?

A. It rewards employees on their promise to make positive contributions to the work place.

B. A reward is based on the successful acquisition of work-related skills or knowledge.

C. It compensates employees for the number of jobs in which they possess the skills to perform.

D. It compensates employees for the jobs they currently perform.

A. Pay rates should mirror pay rate differences among the competition.

B. Jobs that require higher qualifications should be paid more than jobs that require lower qualifications.

C. All jobs should be valued according to neeD.

D. All jobs should be valued equally because every job directly contributes to competitive advantage

A. uses a trust to hold stock in individual employee accounts and distributes it to employees upon retirement

B. contributes company shares of its own stock or cash to be used to purchase company stock to a trust established to purchase shares of the firm's stock for employees

C. involves the firm regularly distributing a percentage of profits as profit shares to employees

D. provides tax advantages for employees by deferring income taxes, often until the employee retires

E. engages employees in a common effort to achieve a company's productivity objectives with any resulting cost-savings gains shared among employees and the company

A. job summary

B. job context

C. job content

D. job structure

A. changes in employee benefits over time

B. pay rates that reflect both the company's and the external market's valuations of jobs

C. changes in wages and salaries over time

D. changes in labor costs between geographic locations

A. It is lower for higher-level employees than for lower-level employees.

B. It is dependent on subjective performance appraisals.

C. It depends on the extent to which employees control the attainment of a desired goal.

D. It decreases as incentive pay represents a greater proportion of total core compensation

A. market monopolies and lower labor costs

B. market monopolies and company turnover

C. smaller labor markets and strategic outlines

D. technological innovations and increased global competition